Qube Technologies, an emission monitoring technology organization, has announced it has secured Series B funding from Riverbend Energy Group (“Riverbend”).
Qube has offered continuous emissions monitoring technology to industries to measure, manage, and reduce their environmental impact. The funding will advance the company’s solutions and expansion.
Since the previous funding, the company has seen an increase in its distributions and client groups. The funding will be utilized for –
- Advanced Technology Development – Qube will invest in research and development, its emissions monitoring solutions, and new product lines.
- Global Expansion – Qube plans to expand its international presence through sales, marketing, and support efforts.
- New Industries – The company plans to leverage its existing technology and address the primary industries, such as waste treatment, renewable natural gas, and mining.
- Talent Acquisition – Qube will assemble talent to promote its growth in continuous emissions monitoring.
The partners say –
Alex MacGregor, CEO of Qube, said, “We are thrilled to enter this new phase of growth with the support of our investors,”
“This funding will allow us to further develop our emissions monitoring solutions, expand our commercial presence, and increase our industry-leading accuracy of our physics guided AI algorithms.”
“Our aim is to provide exceptional value to our clients in their pursuit of environmental responsibility.”
Eric Danziger, Managing Director at Riverbend, said, “Qube’s continuous emissions monitoring solutions are critical for businesses across various sectors to reduce emissions and minimize environmental impact.”
“The Company’s state-of-the-art technology and expertise have earned trust and recognition worldwide.”
Hossam Elbadawy, Managing Director at SCF Ventures, said, “By detecting emissions instantaneously, Qube helps customers react quickly to reduce the ultimate volume of emissions leaked.”
“This represents a step change over the previous industry standard, under which large leaks might go undetected for months while awaiting the next planned survey.”
“We are excited to partner with Riverbend for the next chapter of Qube’s growth,”
The company report claims that as part of the transaction, Eric Danziger will join Qube’s Board of Directors, alongside existing investors SCF Ventures, North West Capital Partners, and Ian Bruce.
